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Calendar Year

1988 in US Banking

1,745 bank events are on record for 1988: 232 failures, 1,275 mergers or acquisitions involving a bank, credit union or bank holding company, and 0 enforcement actions.

232
Failures
$48.36B in failed assets
1,275
Mergers
Federal Reserve NIC, banking organizations
0
Enforcement
OCC, FDIC, FRB, OTS and SEC 8-K filings
238
Assistance
FDIC open-bank assistance

Jump to: Bank failures 1988 · Bank mergers 1988

How many banks failed in 1988?

232 banks failed in 1988, with $48.36B in assets. Each failure below links to its own page.

Date Bank HQ Assets Acquirer or resolution
Jun 2, 1988 Guaranty Bank Dallas, TX $82.1M Red Oak State Bank
Jun 2, 1988 River Plaza National Bank Forth Worth, TX $41.8M Tarrant Bank
Jun 2, 1988 Williamstown Bank, N.A. Houston, TX $23.0M City National Bank
Jun 2, 1988 Security Bank of Boulder Boulder, CO $14.1M First NB in Boulder
Jun 2, 1988 Security Bank of Aurora Aurora, CO $10.9M Security Bank of Colorad
Jun 2, 1988 Community State Bank Whiting, IA $5.1M Sloan State Bank
May 27, 1988 Sandy State Bank Sandy, UT $8.9M Zions First National Ban
May 26, 1988 The First State Bank Rockwall, TX $39.9M Community Bank
May 26, 1988 First National Bank of Kingswood Kingswood, TX $16.1M Interstate Bank North
May 26, 1988 Lone Star Bank Harris County (Bayto, TX $13.0M Citizens B&T Co Baytown
May 24, 1988 Universal S&LA Scottsdale, AZ $116.8M —
May 19, 1988 National Bank of Texas Houston, TX $19.4M Old Braeswood National B
May 13, 1988 Cardinal Savings Bank Newport, NC $93.9M —
May 13, 1988 Westside National Bank Houston, TX $32.2M Compass Bank Houston N.A.
May 12, 1988 The First State Bank Childress, TX $14.9M Citizens STB of Dalhart
May 6, 1988 Forest City Bank & Trust Co. Forest City, IA $26.6M Liberty Bank&trust
May 5, 1988 Union Bank & Trust of Dallas Dallas, TX $36.7M Cornerstone Bank N.A.
May 5, 1988 Lincoln National Bank Arlington, TX $13.0M Tarrant Bank
Apr 29, 1988 American FS&LA Anderson, IN $145.8M —
Apr 29, 1988 Oak Park Bank Oak Park Heights, MN $21.1M St Croix Valley Bank
Apr 22, 1988 The Village Bank Great Falls, MT $21.7M Village Bank of Great F.A.
Apr 22, 1988 Unity Bank Dayton, OH $7.1M First National Bank
Apr 21, 1988 Texas National Bank Austin, TX $18.5M —
Apr 21, 1988 Citizens National Bank Colorado Springs, CO $18.3M State B&T of Co Springs
Apr 19, 1988 MC Allen State Bank McAllen, TX $580.0M First City NB of Houston
Apr 15, 1988 Colonial Thrift & Loan Association Culver City, CA $26.8M Southern Pacific TH&L As
Apr 15, 1988 Metropolitan Industrial Bank Denver, CO $12.4M Resources Industrial Ban
Apr 14, 1988 CY-Fair Bank, N.A. Harris County, TX $13.9M Charter NB Willowbrook
Apr 14, 1988 Jennings Bank Jennings, KS $7.1M Bank of Oberlin
Apr 8, 1988 First Federal of Shawnee Shawnee, OK $130.7M —
Apr 8, 1988 Citizens State Bank of Eagle Bend Eagle Bend, MN $10.0M Lake Country State Bank
Apr 7, 1988 Central National Bank Dallas, TX $15.9M Deposit Guaranty Bank
Apr 7, 1988 Home State Bank Trent, TX $5.4M Farmers&merchants NB Mer
Mar 31, 1988 Union Bank & Trust Company Oklahoma City, OK $182.5M Union Bank&trust Co
Mar 31, 1988 First Bank & Trust Tomball, TX $68.7M Hamilton National Bank
Mar 25, 1988 First National Bank of Del City Del City, OK $30.9M Lincoln National Bank
Mar 24, 1988 Century Bank Tulsa, OK $70.8M Fourth NB of Tulsa
Mar 24, 1988 Cashion Community Bank Cashion, OK $6.7M Community State Bank
Mar 18, 1988 State Bank of Morgan Morgan, MN $20.3M Farmers&merchants STB SP
Mar 18, 1988 Citizens State BK of Gibbon Gibbon, MN $15.1M Minnesota Valley Bank
Mar 17, 1988 First National Bank of Port Allen Port Allen, LA $19.6M Iberville Trust&savings
Mar 11, 1988 First FS&LA of Paducah Paducah, KY $130.9M —
Mar 11, 1988 First Intercounty Bank of New York New York, NY $44.1M Community NB&T Co of NY
Mar 10, 1988 The First Nat Bank & Trust Co. of Cushing Cushing, OK $60.3M American NB of Bristow
Mar 10, 1988 First American Bank & Trust of Baytown Baytown, TX $38.2M Citizens B&T Co Baytown
Mar 10, 1988 Hayesville Savings Bank Hayesville, IA $38.0M Farmers Savings Bank
Mar 10, 1988 Security Bank of Denver, N.A. Denver, CO $17.0M City Center National Ban
Mar 10, 1988 First American Bank & Trust of Manvel Manvel, TX $12.3M First National Bank of a
Mar 10, 1988 First American Bank & TR of Friendswood Friendswood, TX $6.4M —
Mar 10, 1988 Frenchman Valley Bank Palisade, NE $2.8M —

Which banks merged in 1988?

1,275 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1988.

See the fuller list: Bank mergers 1988 with largest deals and credit union mergers ›

Date Acquired St Acquirer
Sep 1, 1988 Speedkraft Credit Union CO Fidelis Catholic Credit Union
Sep 1, 1988 Commerce Bank of Moberly, National Association MO Commerce Bank, National Association
Sep 1, 1988 First National Bank & Trust Company of Fremont NE First Bank National Association
Sep 1, 1988 U F C W Local 37 Federal Credit Union IN Policemen's Federal Credit Union
Sep 1, 1988 Brenton State Bank IA Brenton Bank and Trust Company
Sep 1, 1988 Dairy & Food Services Federal Credit Union CT Finex Credit Union
Aug 31, 1988 Lincoln University Federal Credit Union MO Missouri Credit Union
Aug 31, 1988 Corporate Bankshares, Inc. KS IV Corporate Woods Acquisition, Inc.
Aug 31, 1988 C & P Bank Corporation of Pensacola FL Bank South Pensacola, Inc.
Aug 31, 1988 Citicorp Savings Company NE Citicorp Savings and Industrial Bank
Aug 31, 1988 Citicorp Savings Company MN Citicorp Savings and Industrial Bank
Aug 30, 1988 Monroe Bancshares, Inc. TN First Virginia Banks, Inc.
Aug 27, 1988 Northwest Federal Savings and Loan Association ID WaFd Bank
Aug 27, 1988 Peoples Savings & Loan Association Federal Association MN Metropolitan Federal Bank of Iowa
Aug 27, 1988 First Federal Savings & Loan Association of Hibbing MN Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988 First Federal Savings & Loan Association of Grand Rapids MN Metropolitan Federal Bank Minnesota Federal Savings Bank
Aug 27, 1988 Washington Federal Savings Bank MN Metropolitan Federal Bank of Iowa
Aug 27, 1988 Commerce FSB TN Security Trust Federal Savings and Loan Association
Aug 26, 1988 Barber Employees Federal Credit Union SD Dakota Star Federal Credit Union
Aug 25, 1988 Nadisco Credit Union, Inc. OH Trupartner Credit Union, Inc.
Aug 24, 1988 Bassick Employees Federal Credit Union CT McKesson Federal Credit Union
Aug 23, 1988 Northumberland County Credit Union PA Pinpoint Federal Credit Union
Aug 22, 1988 Bank One, Ashland OH Bank One, Mansfield
Aug 20, 1988 First Bank Bloomington MN U.S. Bank National Association
Aug 20, 1988 Gulf National Bank MS The Peoples Bank, Biloxi, Mississippi
Aug 19, 1988 First Pacific Corporation CA (unnamed)
Aug 19, 1988 Hibernia Bancshares Corporation CA (unnamed)
Aug 19, 1988 Taunton Savings Bank MA New Bedford Institution for Savings
Aug 19, 1988 First Bank and Trust AL First Bank and Trust
Aug 18, 1988 Pittsburgh Tube Employees Federal Credit Union PA Freedom United Federal Credit Union
Aug 17, 1988 First State Financial Corporation of Rockford IL Nwib Acquisition Corporation
Aug 17, 1988 Crown Crafts Employees Credit Union GA LGE Community Credit Union
Aug 15, 1988 Sovran Bank/Williamson County TN NationsBank of Tennessee, National Association
Aug 13, 1988 Union National Bank TN First Union National Bank of Tennessee
Aug 13, 1988 First Wisconsin Bank of Eldorado WI Firstar Bank Fond Du Lac, National Association
Aug 13, 1988 Security Trust CT First Union Bank of Connecticut
Aug 13, 1988 M&I Bank of Middleton WI M&I Bank of Southern Wisconsin
Aug 12, 1988 Capitol Federal Savings of America IL Standard Federal Bank for Savings
Aug 10, 1988 First Federal Savings and Loan Association of Taylorville IL United Savings of America
Aug 9, 1988 American Motors Employees Federal Credit Union MI Cornerstone Community Financial Credit Union
Aug 8, 1988 Holy Name Credit Union NE Greater Omaha Federal Credit Union
Aug 8, 1988 Raywood Federal Credit Union TX Liberty County Teachers Federal Credit Union
Aug 6, 1988 Camden County Bank MO Central Bank of Lake of the Ozarks
Aug 4, 1988 Freedom Federal Savings Bank IL Household Bank, F.S.B.
Aug 2, 1988 State Record Employees Credit Union SC Palmetto Citizens Federal Credit Union
Aug 1, 1988 Skinner Employees Credit Union NE Centris Federal Credit Union
Aug 1, 1988 Arco Bakersfield Federal Credit Union CA Valley Strong Credit Union
Aug 1, 1988 Boc Bancorp, Inc. TN Lawrence Bancshares, Inc.
Aug 1, 1988 FirstBank of Port Isabel, National Association TX FirstBank
Aug 1, 1988 National Safety Council Staff Credit Union IL Alero Financial Credit Union

The list holds 500 of the 1,275 mergers recorded for 1988.

FDIC Open-Bank Assistance in 1988

Date Institution HQ Assets
Apr 20, 1988 First City, Texas - Westheimer Houston, TX $67.0M
Apr 20, 1988 First City, Texas - Westheimer Plaza Houston, TX $62.6M
Apr 20, 1988 First City, Texas - Fondren South Houston, TX $62.5M
Apr 20, 1988 First City, Texas - Northline Houston, TX $61.5M
Apr 20, 1988 First City, Texas - Plano Plano, TX $59.5M
Apr 20, 1988 First City, Texas - Fort Worth Fort Worth, TX $58.8M
Apr 20, 1988 First City, Texas - North Belt Houston, TX $56.7M
Apr 20, 1988 First City, Texas - Colleyville Colleyville, TX $55.0M
Apr 20, 1988 First City, Texas - Northchase Houston, TX $53.6M
Apr 20, 1988 First City, Texas - Northwest Hills Austin, TX $52.7M
Apr 20, 1988 First City, Texas - Medical Center Houston, TX $52.4M
Apr 20, 1988 First City, Texas - Bellaire Bellaire, TX $51.1M
Apr 20, 1988 First City, Texas - Aransas Pass Aransas Pass, TX $48.9M
Apr 20, 1988 First City, Texas - San Antonio San Antonio, TX $47.7M
Apr 20, 1988 First City, Texas - Bear Creek Harris County, TX $46.0M
Apr 20, 1988 First City, Texas - Sour Lake Sour Lake, TX $45.8M
Apr 20, 1988 First City, Texas - Forest Hill Forest Hill, TX $44.8M
Apr 20, 1988 First City, Texas - Kountze Kountze, TX $34.6M
Apr 20, 1988 First City, Texas - Westwood Houston, TX $25.6M
Apr 15, 1988 Burns State Bank Burns, KS $4.4M
Apr 12, 1988 Valley Federal Savings and Loan Erwin, TN $80.5M
Apr 11, 1988 Tri-Cities Savings and Loan Kennewick, WA $53.1M
Apr 11, 1988 Citizens Savings and Loan East Alton, IL $36.4M
Mar 15, 1988 Morehead National Bank Morehead, KY $7.6M
Mar 11, 1988 First Federal Savings Bank Waterloo, IA $152.3M
Mar 11, 1988 Peoples FS&LA Waterloo, IA $151.3M
Mar 11, 1988 First Federated Savings Bank N. Palm Beach, FL $141.7M
Mar 11, 1988 Perpetual S&LA Waterloo, IA $112.8M
Mar 10, 1988 First FS&LA of Craig Craig, CO $30.1M
Feb 12, 1988 American National Bank Parma, OH $27.8M
Feb 10, 1988 Magnet Bank FSB Charleston, WV $547.1M
Feb 10, 1988 Mountain State FS&LA Clarksburg, WV $91.4M
Feb 10, 1988 Traders FS&LA Parkersburg, WV $68.5M
Jan 28, 1988 Alaska Mutual Bank Anchorage, AK $1.18B
Jan 28, 1988 United Bank Alaska Anchorage, AK $314.3M
Jan 27, 1988 Citizens State Bank Hayfield, MN $28.0M
Jan 13, 1988 The Jefferson Guaranty Bank Metairie, LA $292.4M
Jan 7, 1988 The Peoples State Bank & Trust Co Ellinwood, KS $36.6M

Browse adjacent years: 1987 · 1989

Or jump to a category: Failures · Mergers · Enforcement · Assistance